Search Site

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.

UAE president and Ethiopia PM pledge to boost relations

UAE President Sheikh Mohamed bin Zayed and Ethiopia PM Dr. Abiy Ahmed.
  • They also discussed regional and international developments and exchanged views on issues of shared concern
  • Sheikh Mohamed applauded Ethiopia's commitment to advancing renewable energy to attain climate neutrality

Addis Ababa, Ethiopia— The UAE President Sheikh Mohamed bin Zayed and the Prime Minister of Ethiopia Dr. Abiy Ahmed have discussed enhancing various areas of cooperation, including economic, investment, and development ties, across all sectors to serve joint aspirations to support the development and prosperity of both nations.

The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader regional and international issues of mutual interest.

During the meeting held in Addis Ababa, the Prime Minister of Ethiopia welcomed the President, emphasizing that his visit further advances relations between the two countries.

Sheikh Mohamed expressed his delight at visiting Ethiopia and meeting with Prime Minister Abiy Ahmed. He thanked him for delivering his condolences in person on the passing of Sheikh Saeed bin Zayed Al Nahyan, which reflected the special and strong relationship between the two countries.

The president congratulated Abiy Ahmed on the occasion of his birthday, which falls on 15th August, wishing him a long life, good health, and happiness.

He also extended his greetings to Sahle-Work Zewde, President of the Federal Democratic Republic of Ethiopia, and conveyed his wishes for her health and well-being.

The two sides discussed regional and international developments and exchanged views on issues of shared concern, emphasizing the importance of building bridges of cooperation and effective partnerships that contribute to improving the quality of life and promoting prosperity for their peoples.

Sheikh Mohamed underscored the UAE’s keenness to foster collaboration with Ethiopia based on mutual trust, respect, and a commitment to achieving common interests. This reflects the UAE’s efforts to enhance its relations with other nations through partnership and cooperation across all fields to pursue collective solutions to challenges facing the international community.

The president underscored that relations between the UAE and Ethiopia are growing and have witnessed significant progress in recent years, particularly in areas that serve sustainability and development in both countries.

He emphasized the UAE’s keenness to further advance its relations with Ethiopia, including in sectors such as agriculture, food security, energy, trade, investment, technology, and others.

The president noted that Ethiopia is an important trading partner of the UAE in Africa, as the non-oil trade volume between the two countries reached $1.4 billion in 2022, adding that both sides are working to increase this figure in the coming years.

The UAE and Ethiopia are also working to enhance economic exchange, especially given the promising investment opportunities between the two countries, in addition to collaboration in the field of renewable energy, particularly solar energy, His Highness added.

The president emphasized that Ethiopia holds special significance for the UAE in line with its commitment to enhancing ties throughout Africa. This significance is further underscored by Ethiopia’s hosting of the Organization of African Unity’s headquarters, which gives it substantial influence across the continent.

He emphasized that the UAE is committed to working with partners in Africa to further strengthen peace throughout the continent as part of its enduring aim to foster global stability and prosperity. As such, the UAE fully backs all endeavors to achieve peaceful resolutions to crises within the continent and beyond.

Sheikh Mohamed also welcomed the encouraging progress made through the recent agreement between the Arab Republic of Egypt and Ethiopia, which marks the commencement of negotiations aimed at reaching a comprehensive settlement on the Renaissance Dam issue.

He expressed his optimism that forthcoming discussions would lead to a satisfactory resolution for both sides and reinforce cooperation among the concerned nations while promoting regional stability.

He extended an invitation to the Ethiopian Prime Minister to participate in the upcoming Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) to be hosted by the UAE later this year.

The president commended Ethiopia’s commitment to advancing renewable energy, underscoring that it shares the UAE’s objective of attaining climate neutrality by 2050 and stimulating unprecedented economic growth and social development through climate innovation.

The Ethiopian Prime Minister conveyed his appreciation for the deep-rooted relations between the two countries and their peoples, praising the UAE’s efforts to bolster security and stability while strengthening global cooperation, peace, and coexistence. In this regard, he wished the UAE further progress and prosperity.

At the meeting’s conclusion, both parties reiterated their strong commitment to enhancing bilateral relations across economic, trade, investment, and developmental areas. They expressed their shared dedication to fostering mutually beneficial cooperation that bolsters sustainable development, security, and stability across the African continent.

The Prime Minister of Ethiopia hosted a lunch banquet to honor the president and the accompanying delegation.